5 Minute Scalping Strategy ***VWAP UPDATE*** — Transcript

Full transcript

1. 0:00Using this strategy in one trade I made 2262 dollars this morning.
2. 0:07I have been playing with something that has had a dramatic effect on
3. 0:13my five-minute scalping strategy and I want to share it with you guys.
4. 0:17Finally.
5. 0:18Let's get into a video on V.
6. 0:20Whap
7. 0:27So the prerequisite for watching this video you must have watched my
8. 0:32best.
9. 0:335-minute, scalping video.
10. 0:35It is linked right here.
11. 0:37You can watch this one first.
12. 0:38All the way through, because it's good for the algorithm, but then
13. 0:40watch that.
14. 0:41So you have an understanding of what's going on here.
15. 0:43You guys know that I have two indicators that were made by other
16. 0:48people for this channel.
17. 0:49It is the TMA overlay, which is publicly available.
18. 0:53And then the
19. 0:54May RSI Divergence indicator, which for some reason tradingview took
20. 0:58down.
21. 0:59So I'm going to give you the script to that in the description down
22. 1:03below.
23. 1:04So, without me, yabbering on for too long.
24. 1:05Let's get into the charts.
25. 1:07So I can show you exactly how to set this up.
26. 1:09Now, just to clarify.
27. 1:10This is a more advanced video.
28. 1:12If you haven't seen any of my other videos, this is going to be a
29. 1:14little bit over your head.
30. 1:16But essentially, you're going to have three indicators up on your
31. 1:18chart.
32. 1:19The TMA overlay, you guys should already have.
33. 1:22It's in the description of every single video.
34. 1:24Oh, it is publicly searchable.
35. 1:26You can just type in TMA overlay and you'll get that I've already got
36. 1:30it on my chart.
37. 1:31The second one is going to be the TM, a Divergence indicator.
38. 1:34You guys don't have this.
39. 1:35Some of you do if you have the code saved, but essentially I'm going
40. 1:40to just copy and paste the code for you and give it to you in a file
41. 1:43down in the description.
42. 1:45But this basically gives you an RSI line with hidden bullish hidden,
43. 1:49bearish regular, bullish, and regular bearish.
44. 1:51Divergence has they do print late.
45. 1:53So you need to be able to
46. 1:54If I them live and wait for trend line breaks.
47. 1:58Now, normally the TMA overlay looks like this in my 5 minute video.
48. 2:03I explained how a lot of these bullish and bearish engulfing candles
49. 2:08as well as three lines Strike should be ignored.
50. 2:11While looking at Price action in the settings.
51. 2:14I like to get rid of the 100 smooth moving averages.
52. 2:16So you're only going to have the 21, the 50, and the 200, smooth,
53. 2:20moving averages.
54. 2:21And that's all this indicator is, is a
55. 2:24200 a 50 and a 21 as well as bullish and bearish engulfing candles and
56. 2:31double arrows for these three lines strikes, which means those three
57. 2:34consecutive in One Direction and One engulfing in the opposite
58. 2:38direction.
59. 2:39Now, previously, the entire strategy looked like this, when the price
60. 2:42is above, the 200, period, moving average, you want to only look for
61. 2:47long positions and you want to look for rejections off of the 21 with
62. 2:52these engulfing candles or three lines.
63. 2:54Rikes, you also want the RSI line above the 50 level, at any of these
64. 2:59points.
65. 3:00You can get into a trade.
66. 3:01After three lines strike, are an engulfing candle and set your stop
67. 3:05loss at the previous moving average for your take profit.
68. 3:08You are going to look left and see where the next resistance Zone was.
69. 3:12And that's going to be your scalp.
70. 3:14That's going to be your 5-minute scalp on a five minute time.
71. 3:17Frame rejecting off of the 21 right here.
72. 3:20We had a 1-2-3 and it played out and this is on US 30.
73. 3:24So depending on your lot size.
74. 3:25This could have been a lot of money.
75. 3:27This was a 127 Point move on u.s.
76. 3:2930.
77. 3:30So do your calculations and you can see it's highly effective.
78. 3:34So while playing with other indicators because you guys know I'm an
79. 3:37indicator horror.
80. 3:38I got a lot of suggestions about the V wop.
81. 3:41When I saw the video app line, hold on.
82. 3:43Let me explain what video app is volume weighted average price.
83. 3:49So it is the average price like the moving averages, but it's also
84. 3:54It with volume volume weighted average price, which is amazing because
85. 3:59it certain levels.
86. 4:00When you have overbought or oversold markets, volume indicators can be
87. 4:04super beneficial.
88. 4:06That's why I've done several videos on volume, but having the volume
89. 4:10weighted average price on top of all of this stuff that we already
90. 4:14have. So, at this point, you're going to have three indicators.
91. 4:17Go to indicators Tab, and just type in Vivo app.
92. 4:19It is a built-in.
93. 4:21I like to change these settings a little bit.
94. 4:22So it stands out, click on the
95. 4:24Weíll get rid of the upper band and the lower band and the fill color
96. 4:27and change the colour of this thing to this, like, second blue, when
97. 4:31it's kind of like, kind of Milky, get it.
98. 4:33I don't know, II thickness and that's all you got to do at this point
99. 4:36right here.
100. 4:37You've already got the essence of my 5 minute, scalping strategy,
101. 4:40where it rejects off of the 21, but if you can get that in Confluence
102. 4:45with the Viva pipeline, The View app holding the price like being a
103. 4:49nice level of support that is live like that.
104. 4:53Actually
105. 4:54Support and resistance levels, but the actual support of the price
106. 4:58when it rejects off of the 21 and you get the view a projection right
107. 5:02there, that is an extra Confluence and extra confidence that you can
108. 5:07have in that trade that it's going to go long term.
109. 5:09So from beginning to end.
110. 5:11What are we looking for?
111. 5:12For this 5 minute, scalping strategy.
112. 5:15We are waiting for price to break over the 200, moving averages or
113. 5:19under the 200 moving average.
114. 5:22It needs to cross.
115. 5:23So once it crosses
116. 5:24you're looking for long positions on the upside and once it falls
117. 5:27below you're looking for shorts on the downside.
118. 5:30You want D21 and the 50 moving average to also, cross through you
119. 5:36want. Nice momentum to the upside when we're changing directions in the
120. 5:40trend.
121. 5:40So at this point right here, we have the 21, the 50, and the 200-day
122. 5:45all lined up for a good long position.
123. 5:47Now, we're just waiting for that rejection off the 21 period moving
124. 5:51average, which we had right here.
125. 5:53And without
126. 5:54The V web.
127. 5:55This is all you're going to see is an engulfing.
128. 5:57Three lines, strike right here.
129. 5:59Rejecting off of the 21.
130. 6:01We're also looking at the Divergence indicator.
131. 6:03We already had a hidden bullish, Divergence showing that we might get
132. 6:06some upwards momentum from that point.
133. 6:09But essentially you just want to keep above the 50 line here.
134. 6:12You had to wait an extra one or two candles but having the view app
135. 6:17line on there and seeing that it rejected off of the 21 as well as the
136. 6:22view app.
137. 6:23That is
138. 6:24A key key key.
139. 6:27Let me put it a different way.
140. 6:28If you see this happening, it's like the little angel on your
141. 6:31shoulder.
142. 6:32Tapping.
143. 6:32You and saying, hey, Artie get into this trade.
144. 6:35It's going to be good every time.
145. 6:37I'm unsure about a trade.
146. 6:39I don't know why it's rejecting or why it's bouncing off of this
147. 6:42point. And I start to play with other moving averages like the 10 or the 100,
148. 6:47but the one missing link for me, I think has always been the viwa
149. 6:52pipeline and The more I've been playing with this.
150. 6:54Which has been weeks and weeks and weeks, the more success on finding
151. 6:58in it. Now, again, you can see right here.
152. 7:00It rejected off of the view app line, as it crossed through the 200.
153. 7:04Before it rejected off of the 21.
154. 7:06I don't really suggest getting into these trades that are that early
155. 7:11just because I want to see the other moving averages, get above it to
156. 7:14show that nice momentum and have the push up that we need to get that
157. 7:19Trend going.
158. 7:20So like kindling, the fire and then dousing it in gasoline now from
159. 7:23everything.
160. 7:24That I've seen, I would stick to either a five minute, 15 minute, or 1
161. 7:29hour time frame depending on which one you're most comfortable with.
162. 7:32I like to trade the 5-minute chart.
163. 7:35It's faster.
164. 7:36I'm in and out of positions, faster, and it's more active, and I only
165. 7:39have certain hours of the day that I like to trade or that I have the
166. 7:42patience to trade.
167. 7:43So a five minute chart for me, is really, really good, knowing all the
168. 7:47stuff that I know about trading on higher time frame.
169. 7:50So, I'm always looking at multiple time frames, making sure that I'm
170. 7:53above
171. 7:54Below the 200 on those time frames.
172. 7:56So what I highly suggest is watching all of my videos using these
173. 8:01indicators, the scalping strategies, the different time frames, get to
174. 8:06know my content, memorize my strategy, and then implement the V Webb.
175. 8:11And I promise you, it's going to make a huge difference in your
176. 8:15trading as well, as you carrying more confidence in that trade being
177. 8:20able to hold it longer knowing that the view app line is supporting
178. 8:24your Trade and just to give you an example of a short position, here.
179. 8:26It fell below the 200 moving average rejected off of the 21 then found
180. 8:31that push down as it passed the view app line.
181. 8:33And right there you're going to get in on your short position and
182. 8:36scalp it for your price targets.
183. 8:38You're always going to look left to see where it had the most
184. 8:41resistance.
185. 8:41And for those of you that like to counter Trend trade, scalping, in
186. 8:45between the moving averages.
187. 8:46Like I've explained in many of my videos, you wait for the price to
188. 8:50cross through those moving averages to push down to the 200.
189. 8:53But with this,
190. 8:54You also get that video app cross showing you that momentum to the
191. 8:58downside.
192. 8:58So as it crosses the 50, you can easily take that position down to the
193. 9:02200.
194. 9:03I simply targeted on this trade that I took.
195. 9:06When was that October 18th?
196. 9:08I simply targeted this Zone when I looked left, which was below the
197. 9:11200, which was a little bit more risky, but it played out beautifully.
198. 9:15So, before I started recording this video, I actually saw a good
199. 9:19entrance right here on this huge a scandal because you guys know I
200. 9:22love to trade big-ass candles.
201. 9:24Breaking down below that V Webb.
202. 9:27So, I entered my trade right here, stop loss around where the mush of
203. 9:32moving averages targeting, just below the 200 moving average.
204. 9:36This is a counter Trend trade and I don't suggest everybody do this,
205. 9:39but I looked left and saw a bunch of resistance here.
206. 9:41So that was the area that I targeted.
207. 9:44And a 1/2 2.25 risk to reward ratio.
208. 9:49If you're curious.
209. 9:50I've started a funded account challenge.
210. 9:54F TM o, which I'm going to discuss in tomorrow's video.
211. 9:57But not bad, is your first trade on a fund that account.
212. 10:01So if you guys have mastered my strategy, but you're still struggling
213. 10:04a little bit.
214. 10:05I highly suggest adding a video app onto your charts to see if that
215. 10:10works for you.
216. 10:10If that gives you another Confluence and more confidence while
217. 10:14trading.
218. 10:14Now again, if you guys have not seen the first video that I made on
219. 10:17this five-minute scalping strategy, please watch it here.
220. 10:20If you guys got some value out of this video and you like the way that
221. 10:23I teach,
222. 10:24Teach and you appreciate all the content that I'm making consider
223. 10:27subscribing to the channel.
224. 10:28By clicking this button right here, also share the channel, so I get
225. 10:31to a million subscribers, please.
226. 10:32Thank you.